Gold Summary for Feb. 23 2018

by Stockwatch Business Reporter

New York spot gold fell $3.20 to $1,328.20 on Friday. The TSX Venture Exchange slipped 3.10 points to 826.09 while the TSX Gold Index rose 0.75 point to 182.59. China Gold International Resources Corp. (CGG) had another good day, gaining 14 cents to $2.93 on 614,000 shares. The stock traded for $2.05 earlier this month. Torex Gold Resources Inc. (TXG) led the retreat. It fell 55 cents to $11.16 on 684,000 shares. The company reported a $12.6-million (U.S.) loss in 2017; the result of ramp-up problems and an illegal blockade at its El Limon-Guajes mine in Guerrero, Mexico. Fred Stanford, president and chief executive officer, said he was glad to have 2017 in the rear-view mirror. Still, there could be new challenges lurking ahead, beyond the reach of Torex's headlights

Clive Johnson's B2Gold Corp. (BTO), up 15 cents to $3.82 on 9.46 million shares, has an initial open-pit resource estimate for its El Limon Central zone at its El Limon project in Nicaragua. The company lists 5.13 million tonnes inferred at 4.92 grams per tonne, or about 812,000 ounces of gold, using a 1.2-gram-per-tonne cut-off. The El Limon Central vein structure has been tested along a 2,200-metre strike length so far and it remains open at depth and along strike. Portions of the new resource lie within 150 metres of the El Limon mill and extend northwest and southeast from there, adjacent -- but thankfully not beneath -- the company's administrative infrastructure and plant.

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